If your organization invested in contact center technology more than a few years ago, it’s probably time for an update. Older contact center solutions tend to be monolithic, hardware-centric platforms that lack the features and flexibility needed to meet today’s customer demands. But how do you convince executive management that it’s time to invest in new contact center technology?
In order to build a business case for a new contact center, you need to gather data and calculate the potential return on investment (ROI). Start by examining these key areas where an up-to-date contact center can impact the bottom line.
Reduced Infrastructure Costs
How much does the contact center cost today, including maintenance contracts and IT support? Does it require expensive TDM trunks? If you wanted to add another communication channel or integrate the contact center with business software, would it require a forklift upgrade? Older contact center platforms tend to have high total cost of ownership, and that cost may be duplicated across multiple sites.
A modern contact center can offer significant infrastructure cost savings while providing a more flexible architecture that’s easier to scale. Today’s solutions are also software-driven, giving you an array of options along with programmable features and the ability to integrate with business software. Cloud-based solutions take this even further, eliminating the need for onsite equipment, maintenance and support.
What is your customer retention rate? What is the primary cause of customer churn? The answer may surprise you. According to Aberdeen Group, companies that have an integrated omnichannel contact center report retention rates of 89 percent, compared to just 33 percent for those that don’t. Boosting retention can increase revenue by maximizing the lifetime value of each customer.
An omnichannel contact center with intelligent routing can also help you close more sales. Calls are automatically routed to the best agent based on the customer’s profile and history, increasing the potential for generating revenue. Depending on the typical value of a closed sale through inbound voice calls, improving the sales-closing ratio can have a significant impact on the bottom line.
Improved Agent Efficiency
How do you maintain adequate staffing levels while keeping personnel costs under control? What is your contact center occupancy rate — the percentage of time agents spend handling calls versus sitting idle? While it’s neither feasible nor desirable to achieve a 100 percent occupancy rate, increasing agent efficiency means you can handle more customer inquiries with the same staff.
Intelligent call routing can reduce call handling time by sending calls to the most appropriate agent. Integrating contact channels can enable agents to answer chat, text and email inquiries when they’re not answering voice calls. If agents are provided with the customer’s profile and history when the call is routed, they don’t have to take time asking for the customer’s name and account number. As an added benefit, these techniques increase first-call resolution rates and enhance the customer experience.
Building a business case for technology investments is never easy. But by looking at these core areas, you can gather the data you need to calculate the ROI of a new contact center solution. The experts at IPC can help you evaluate your existing platform and develop an upgrade strategy that delivers real business benefits.